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MakerDAO Co-founder Recommends DAI-USD Depegging: 'No Option But To Prepare To Free Float Dai'

www.benzinga.com

MakerDAO co-founder Rune Christensen has reached out to the community in light of recent conversations of decoupling its native token from USD Coin (CRYPTO: USDC) amid the sanctioning of Tornado Cash to explain why free-floating Dai (CRYPTO: DAI) may be the only option for the decentralized autonomous organization (DAO). Christensen acknowledged underestimating the hazards associated with risk-weighted assets in his blog post titled "The Path of Compliance and the Path of Decentralization: Why Maker has no option but to Prepare to Free Float Dai.

Read in Full: www.benzinga.com
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MakerDAO recommends DAI-USD de-pegging to limit attack - Coinnounce

In light of recent discussions about separating its native token from USD Coin (USDC) during the approval of Tornado Cash, MakerDAO co-founder Rune Christensen reached out to the community and explained why free-floating DAI might be the only option for the decentralized autonomous organization (DAO).


MakerDAO: It's a bumpy ride to recovery as MKR declines 37% and TVL drops 10%  - AMBCrypto

The current Total Value Locked (TVL) across all DeFi platforms stood at $59.18 billion at the time of writing. DeFi platforms have been severely affected by general downturn that has plagued the cryptocurrency market since the beginning of August.


Huntingdon Valley Bank to Access Up to $100M of DeFi Funding via MakerDAO - CrowdFundInsider

MakerDAO, the “longest-standing” DeFi lending protocol and creator of DAI, the “original,” decentralized stablecoin, announced that Huntingdon Valley Bank (HVB) has been “approved to utilize a $100M participation facility, funded by a Maker Vault.


MakerDAO Collaborates With U.S.-Based Bank, Lends Out 100M DAI - Coinfomania

MakerDAO, a smart contract protocol built on the Ethereum network, announced on Tuesday that it is lending out 100 million DAI to the United States-based commercial bank, Huntingdon Valley Bank.  Today is a defining moment to envision the potential of connecting decentralized finance and real-world finance.


UNI, MKR register spikes in whale transactions but the alts - AMBCrypto

Uniswap's UNI and MakerDAO's MKR are the two leading altcoins that have seen a significant spike in whale transactions above $100,000 on their respective networks since the beginning of this month, data from Santiment revealed.


MakerDAO Founder Suggests ‘Seriously Considering' Depegging DAI from USD - Cryptonews

MakerDAO (decentralized autonomous organization) founder Rune Christensen has called for the community members to consider depegging Maker (MKR)'s stablecoin DAI from USD, and perhaps (slowly) getting into ethereum (ETH) – which Vitalik Buterin argued would be a “terrible idea.”


MakerDAO Founder Considers Risky Move Of Selling USDC - Crypto Daily

The co-founder of the Decentralized Autonomous Organization has expressed that he plans to sell $3.5 billion worth of USDC for ETH.  DAI Could Depeg MakerDAO co-founder Rune Christensen's decision to sell such a vast amount of USDC for ETH could result in another stablecoin catastrophe.


MakerDAO is “seriously” considering moving away from USD - Cryptopolitan

The founder of MakerDAO, Rune Christensen, said on the project's official Discord channel that they are seriously considering moving away from using Circle's stablecoin USD Coin (USDC) following the immediate closure of USDC addresses sanctioned by US authorities for interacting with Tornado Cash.


Is MakerDAO Moving All Its USDC Funds to ETH? Vitalik Buterin Calls It Terrible Idea - Coingape

In a big development, Rune Chirstensen, founder of MakerDAO has urged all the members to “seriously consider” preparing the depeg of the DAI stablecoin from the U.S. Dollar. The comments came on the MakerDAO discord channel on Thursday, August 11, after the U.S. Treasury sanctioned crypto mixer Tornado Cash earlier this week.


MakerDAO founder says it's ‘almost inevitable' DAI will abandon USD peg - The Block

MakerDAO is set to discuss whether it needs to remove the USDC backing for DAI which could depeg the stablecoin from the US dollar. The post MakerDAO founder says it's ‘almost inevitable' DAI will abandon USD peg appeared first on The Block.

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